Best Buy (NYSE:BBY) Price Target Raised to $84.00

29 May 2026, 10:50 by Jessica Moore · The Cerbat Gem

Best Buy (NYSE:BBY – Get Free Report) had its price objective boosted by JPMorgan Chase & Co. from $76.00 to $84.00 in a research report issued on Friday,MarketScreener reports. The firm currently has a “neutral” rating on the technology retailer’s stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 11.82% from the company’s current price.

BBY has been the subject of a number of other reports. Piper Sandler restated a “neutral” rating and issued a $77.00 price objective on shares of Best Buy in a research report on Thursday. Truist Financial raised their price objective on Best Buy from $66.00 to $81.00 and gave the company a “hold” rating in a report on Friday. Citigroup boosted their target price on Best Buy from $60.00 to $79.00 and gave the stock a “neutral” rating in a research report on Friday. Wedbush upped their target price on Best Buy from $70.00 to $75.00 and gave the stock a “neutral” rating in a research note on Friday. Finally, HSBC reduced their price target on shares of Best Buy from $96.00 to $85.00 in a research report on Thursday, February 26th. Seven equities research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Best Buy presently has a consensus rating of “Hold” and an average price target of $78.60.

View Our Latest Stock Analysis on Best Buy

Best Buy Stock Performance

NYSE:BBY opened at $75.12 on Friday. The business’s fifty day moving average is $61.99 and its 200 day moving average is $66.80. The firm has a market cap of $15.83 billion, a price-to-earnings ratio of 14.86, a PEG ratio of 1.59 and a beta of 1.22. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.43 and a current ratio of 1.11. Best Buy has a 52-week low of $55.10 and a 52-week high of $84.99.

Best Buy (NYSE:BBY – Get Free Report) last issued its earnings results on Thursday, May 28th. The technology retailer reported $1.28 EPS for the quarter, topping the consensus estimate of $1.22 by $0.06. The business had revenue of $8.94 billion during the quarter, compared to the consensus estimate of $8.82 billion. Best Buy had a return on equity of 49.17% and a net margin of 2.56%.The firm’s revenue was up 1.9% compared to the same quarter last year. During the same quarter last year, the company earned $1.15 EPS. Best Buy has set its FY 2027 guidance at 6.300-6.600 EPS. Research analysts predict that Best Buy will post 6.5 EPS for the current year.

Insider Activity

In other news, EVP Jason J. Bonfig sold 6,336 shares of the firm’s stock in a transaction on Monday, March 23rd. The stock was sold at an average price of $64.02, for a total value of $405,630.72. Following the transaction, the executive vice president directly owned 79,137 shares in the company, valued at $5,066,350.74. This trade represents a 7.41% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Kathleen Scarlett sold 8,049 shares of Best Buy stock in a transaction on Monday, March 23rd. The stock was sold at an average price of $64.02, for a total value of $515,296.98. Following the completion of the sale, the executive vice president directly owned 102,669 shares of the company’s stock, valued at $6,572,869.38. The trade was a 7.27% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 77,247 shares of company stock worth $4,945,353. Insiders own 0.47% of the company’s stock.

Hedge Funds Weigh In On Best Buy

Several institutional investors have recently made changes to their positions in BBY. Vanguard Group Inc. increased its holdings in Best Buy by 2.4% during the third quarter. Vanguard Group Inc. now owns 23,947,415 shares of the technology retailer’s stock valued at $1,810,904,000 after buying an additional 552,360 shares during the last quarter. Concurrent Investment Advisors LLC boosted its stake in shares of Best Buy by 100.6% during the 4th quarter. Concurrent Investment Advisors LLC now owns 70,280 shares of the technology retailer’s stock worth $4,704,000 after acquiring an additional 35,239 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Best Buy by 2.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,754,844 shares of the technology retailer’s stock worth $132,701,000 after acquiring an additional 39,026 shares during the last quarter. Allianz Asset Management GmbH grew its position in shares of Best Buy by 5.7% during the 3rd quarter. Allianz Asset Management GmbH now owns 1,639,202 shares of the technology retailer’s stock valued at $123,956,000 after acquiring an additional 89,057 shares during the period. Finally, PFA Pension Forsikringsaktieselskab purchased a new stake in shares of Best Buy in the 4th quarter worth $1,741,000. Institutional investors own 80.96% of the company’s stock.

More Best Buy News

Here are the key news stories impacting Best Buy this week:

Positive Sentiment: Best Buy delivered a clean Q1 beat on earnings and revenue, with positive comparable sales growth and improving margins. Best Buy (BBY) Beats Earnings Expectations, Shares Climb 15.8%
Positive Sentiment: The company maintained its full-year guidance and issued Q2 sales guidance that came in better than expected, reinforcing confidence in the turnaround. Best Buy Reports First Quarter Results
Positive Sentiment: Analyst sentiment improved after the report, with Jefferies raising its price target to $89 and Morgan Stanley lifting its target to $80, signaling additional upside. Analyst price target updates for Best Buy
Neutral Sentiment: Unusual call option activity suggests traders are positioning for more volatility and continued momentum in BBY. Stock Traders Buy High Volume of Best Buy Call Options (NYSE:BBY)
Neutral Sentiment: Best Buy also announced a quarterly dividend of $0.96 per share, which may appeal to income-focused investors. Best Buy dividend announcement

Best Buy Company Profile

(Get Free Report)

Best Buy Co, Inc is a leading North American consumer electronics retailer that sells a broad range of products including computers, mobile phones, televisions and home theater systems, major appliances, smart-home devices, gaming hardware and software, wearables and related accessories. The company operates through a mix of large-format stores, smaller specialty locations and an e-commerce platform, offering national and private-brand merchandise from major consumer-technology manufacturers as well as third-party sellers.